Winner for Isle of Wight roads PFI

30 May 2012The Isle of Wight Council has revealed the preferred bidder for its £325m highways PFI deal.

A Vinci/Ringway consortium has won the deal to manage and maintain 803km of highways and 827km of public rights of way on the island, with all of its roads being rebuilt or resurfaced over the course of the 25-year contract.

The team beat off competition from the Colas-led Wight Highways Partnership, and the deal is the second they have secured in the last two months, having been named preferred bidder on the Hounslow highways PFI in March.

Financial close on the Isle of Wight deal is planned for October this year, with work due to begin on-site in April 2013.

The deal is one of several pilot projects to see how the PFI model can be used to manage and maintain the road network. The first scheme in the pilot programme, Birmingham’s PFI deal, was signed by contractor Amey in 2010.